HomeMy WebLinkAbout0989 with this Articles of A~reement, P Quit Cla~m Deed reconveying the
above ~escribed property unto the parties af the first part, with xhe
express understanding that so long as the payments called for here-
under are promptly made and the second party otherwise abides by
all the terms hereof the said Quit Claim Deed shall be held in es-
crow. However, should any payment called for hereunder remain
unpaid for days from the due date, or should the second party
otherwise breach this Agreement by non-payment of taxes or other
covenant herein contained, th~n first parties may, without any notice
or demand to second party, record said Quit Claim Deed and th~reupon
second party shall have no further right, title, interest, claim or de-
mand to the above described property and first parties may re-take {
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possession of the same instantpr and second party shall then have no ~
right to possession of said property nor any further right under this
Agreement.
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NOW, if the party o~ the second part shall make the payments
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and perform the covenants herein before mentioned on her part to be +
performed, then the parties o~ the first part, will forthwith tender a ~
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good and sufficient deed with documentary stamps affixed thereto, in a ~
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proper amount, to the said party of the second part. -
IN THE EVENT OF FAILURE c~f the said party Qf the second
art to rnake an of the a ments, or an ~
P y p y y part thereof, promptly on the ;
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: dates specified, or fail to perform any of the covenants on her part hereby
make an~ entered- into this Agreeinent shall, at the option of the parties of
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the first part, be forfeited and terminated, and party of the second part
shall forfeit al] payments made by her under this Agreement; and such pay-
ments shall be retained by the said p~rties of the first part toward saits-
faction and liquidation of all damages by tl~em sustained, and the parties of
the first part shall have tt,e right to re-enter and take posssession of the
premises af~resaid without. bein~ liable to any action therefor. The party
of the second part is given the express privilege of making two ar more ~
payments on any installmern due date without penalty, but the making of ~
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